Royal Capital Wealth Management LLC Purchases New Shares in Nucor Corporation $NUE

Royal Capital Wealth Management LLC purchased a new position in shares of Nucor Corporation (NYSE:NUE) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 3,437 shares of the basic materials company’s stock, valued at approximately $766,000.

A number of other institutional investors have also recently added to or reduced their stakes in NUE. Northwestern Mutual Wealth Management Co. increased its holdings in Nucor by 745.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 83,463 shares of the basic materials company’s stock worth $13,614,000 after purchasing an additional 73,588 shares during the last quarter. California Public Employees Retirement System boosted its stake in shares of Nucor by 19.3% during the 1st quarter. California Public Employees Retirement System now owns 510,331 shares of the basic materials company’s stock valued at $86,297,000 after buying an additional 82,668 shares during the last quarter. Pacific Heights Asset Management LLC boosted its stake in shares of Nucor by 12.9% during the 4th quarter. Pacific Heights Asset Management LLC now owns 175,000 shares of the basic materials company’s stock valued at $28,544,000 after buying an additional 20,000 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Nucor by 1.7% during the first quarter. Bank of New York Mellon Corp now owns 1,809,899 shares of the basic materials company’s stock worth $306,054,000 after buying an additional 29,476 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in shares of Nucor during the fourth quarter worth approximately $23,804,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Stock Up 0.3%

NUE stock opened at $244.32 on Tuesday. The firm has a market cap of $55.43 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 0.90 and a beta of 1.89. Nucor Corporation has a 1-year low of $131.32 and a 1-year high of $280.11. The firm has a fifty day moving average price of $246.58 and a two-hundred day moving average price of $217.46. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.36.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 EPS for the quarter, beating the consensus estimate of $4.46 by $0.38. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The business had revenue of $10.40 billion during the quarter, compared to analyst estimates of $10.15 billion. During the same period in the previous year, the business posted $2.60 EPS. The company’s quarterly revenue was up 23.0% on a year-over-year basis. Research analysts predict that Nucor Corporation will post 17.95 EPS for the current year.

Nucor Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.56 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.24 annualized dividend and a dividend yield of 0.9%. Nucor’s payout ratio is 17.86%.

Analyst Upgrades and Downgrades

NUE has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their price target on shares of Nucor from $240.00 to $282.00 and gave the company an “overweight” rating in a report on Wednesday, June 10th. Seaport Research Partners boosted their target price on shares of Nucor from $245.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Barclays boosted their target price on shares of Nucor from $272.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Citigroup reaffirmed a “buy” rating on shares of Nucor in a research report on Wednesday, July 29th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Nucor in a research note on Tuesday, August 11th. Twelve investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $272.38.

Insider Activity

In other news, EVP John J. Hollatz sold 10,560 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total transaction of $2,729,337.60. Following the completion of the transaction, the executive vice president owned 97,865 shares in the company, valued at approximately $25,294,187.90. This represents a 9.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thomas J. Batterbee sold 4,000 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the completion of the sale, the executive vice president directly owned 16,138 shares in the company, valued at approximately $4,212,340.76. This trade represents a 19.86% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 18,528 shares of company stock valued at $4,793,035. 0.62% of the stock is currently owned by company insiders.

Nucor Company Profile

Nucor Corporation (NYSE: NUE) is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor’s operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value?added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.